Cebu Pacific (CEB) looks to continue its rapid growth, leveraging on 2024 fleet and network development.
During its annual stockholders’ meeting, CEB Chairman Lance Gokongwei highlighted the importance of the company’s continued commitment to excellence, expansion of its network and strategic investment in aircraft.
“Our work over the past couple of years have placed Cebu Pacific in a position to take advantage of the Philippine growth story, and we are confident that our airline will continue to reach new highs – on the back of the outstanding work of the organization, other stakeholders, and of course, your unwavering support,” Gokongwei said at CEB’s annual stockholders’ meeting.
The company finished 2024 with significant growth in revenues through record breaking passenger numbers and a consistently strong seat load factor throughout the year.
To support its growth and ensure operational resilience amid industry challenges, CEB took delivery of 17 aircraft in 2024 and pushed forward with the development of hubs across the country, to ensure that more people have access to affordable air travel.
CEB Chief Executive Officer Michael Szucs noted how these strategic investments in hubs and aircraft have been key catalysts to CEB’s growth. “By seizing these opportunities, we have not only outpaced competition but also solidified our position as industry leader,” Szucs said.
In 2024, CEB’s growth strategy enabled it to become the leader in the Philippine international market, while strengthening its leadership in the domestic market.
Szucs expressed confidence in CEB’s continued growth in 2025, noting how early months of 2025 show that the market is already absorbing the additional capacity, and how this will also strengthen the company’s overall financial position.
He also expressed his optimism in the long-term growth potential of Philippine aviation, driven by the country’s economic, geographic and demographic advantages. Underpinning this view is CEB’s historic order for up to 152 aircraft signed in 2024, showing its commitment to supporting the Philippines’ continued growth and development, and securing its leadership position well into the next decade.
